A major think tank just retracted its analysis of the GOP tax plan after discovering an error

The Tax Policy Center retracted its analysis of the GOP tax reform bill after releasing it Monday.

The think tank appears to have made an error concerning the language of the bill's child tax credit.

A new analysis is forthcoming.

The Tax Policy Center retracted its analysis of the Republican tax reform bill, the Tax Cuts and Jobs Act (TCJA), following the discovery of an error with their analysis.

The TPC said the analysis misinterpreted language concerning the child tax credit in the TCJA, causing a change in its analysis of the bill.

"TPC staff found an error in the preliminary distributional analysis of the Tax Cut and Jobs Act (TCJA) that we released today," said in a statement to Business Insider. "This error involved the additional child tax credit component of the proposed legislation. We are in the process of revising our analysis and will release a corrected version as soon as possible. We are removing all related analyses from our website."

The group said it would release an updated analysis of the bill.

It was not immediately clear how the changes would impact the analysis, which showed that much of the benefit from the bill would go to wealthy individuals.